Analytics
bt-crow.com
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In the latest edition of the Technical Roundup, analyst DonAlt reveals that XRP has broken through the critical resistance at $0.40 and is now set to jump to $0.60.
DonAlt said last week that it is mostly bullish on XRP due to the anticipation surrounding the Ripple Labs v. US Securities and Exchange Commission (SEC) lawsuit. Both parties to the lawsuit filed a petition for a summary judgment, that is, to dismiss the court case without going to court.
The analyst mentioned a $3 target, almost 650% above current levels.
“If they win the lawsuit… I think that basically it will be a giant breakthrough… If this happens, many people will reinvest in the altcoin,” the analyst notes.
Recall that on September 17, the SEC and Ripple Labs filed petitions with the court for an immediate ruling on whether the sale of Ripple XRP violated US securities laws. Both parties called on Federal Judge Analisa Torres to issue a summary judgment, believing that there was enough evidence to do so.
The regulator accuses Ripple of selling $1.3 billion worth of unregistered securities under the guise of XRP tokens.
#Analyst #Predicts #Strong #XRP #Rally #Red #Market
